The main benefit(s) from benchmarking sourcing practices is/are:
A) Savings in energy consumption and materials, lower distribution costs, and improved corporate image among regulators, customers and community.
B) Lower prices of goods and services, use of fewer buyers and lower administrative costs
C) Larger market for products, economies of scale in purchasing and production, and lower labor costs.
D) Allows firms to leapfrog the experience-gaining stage by trying things that have worked well for other companies.

Question

Quizplus · Accepted Answer

Benchmarking sourcing practices allow firms to learn from the experiences of other companies and adopt successful strategies, which can help them to achieve their goals more quickly and efficiently. This can be particularly beneficial for firms that are new to sourcing or that are looking to improve their existing practices. Option A, B, and C are also potential benefits of benchmarking, but D is the most comprehensive and specific to the topic of sourcing practices.

The Main Benefit(s) from Benchmarking Sourcing Practices Is/are